Fast Travel Games, the VR studio founded by ex-EA, Rovio and DICE employees, has announced it's raised a $2.1m series A funding rounded. The funding was led by leading Nordic venture capital firm Industrifonden, with participation from Creades, Inbox Capital and existing investor Sunstone Capital.
This brings the company's total funding to $2.9m, and Fast Travel Games has said it will be using it primarily to launch its first game – an action adventure VR title led by the design director of Mirror's Edge Catalyst and Fast Travel Games' co-founder Erik Odeldahl.
Once the game has launched, Fast Travel Games will also use this latest round of funding to expand the size of its team, allowing the studio to begin the pre-production of its next game simultaneously. The studio aims to double in size over the next year, having already grown significantly since it originally launched, attracting talent from companies such as EA, DICE, Guerrilla Games, Rovio and Avalanche Studios whose CVs include Star Wars Battlefront 2, Horizon Zero Dawn, Mirror's Edge Catalyst, Just Cause 2, and Angry Birds 2.
Whilestill in its infancy, virtual reality is becoming a platform where consumers can play and engage with games like never before,” said Oskar Burman, Fast Travel Games' CEO and co-founder, and former head of studio of Rovio Stockholm.
We are excited to have these prominent Nordic investors by our side as we strengthen our team and expand upon our ability to bring these experiences to life for players.”
John Sjlander, investment manager at Industrifonden added:The gaming industry has been under served by venturecapital looking from a return on investment perspective. We see huge opportunity in VR moving to mass market and ubiquity.
"Combine these two factors with a stellar team and you have something that's a very attractive investment. With Fast Travel Games' deep-rooted expertise and track record within the games industry, and with really good co-investors, we're very excited for this investment.”